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China's Alibaba Buys Back Half Of Yahoo! Inc's Stake-Reuters


Tuesday, 18 Sep 2012 04:02pm EDT 

Reuters reported that Alibaba said it paid Yahoo! Inc about $6.3 billion in cash and $800 million in preferred shares in Alibaba Group. It also made a one-time cash payment of $550 million in connection with an amendment to the two companies' intellectual property license agreement. Separately, Yahoo said it will return to shareholders $3 billion of the $4.3 billion of after-tax proceeds from the sale. This is in addition to the $646 million downpayment that it has already returned to its shareholders through buybacks. Yahoo continues to own about 23% of Alibaba's common stock, valued at $8.1 billion, the U.S. internet company said. Together with preferred stock, its stake is valued at about $8.9 billion, Yahoo said. Yahoo owned about 40% of Alibaba Group before September 18, 2012 transaction. Alibaba said it has the right to buy back half of Yahoo's remaining stake at the time of the Chinese company's planned initial public offering. 

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